The first of these studies (study 171) is an open-label study in
patients with type 1 diabetes. After a run-in period, during which all
patients are optimized on their basal insulin regimen, at least 471
subjects are to be randomized to one of three arms for mealtime insulin:
a control arm, in which patients utilize injected rapid-acting insulin,
or one of two AFREZZA arms, one for the MedTone inhaler and the other
for the next-generation inhaler. After the mealtime insulin is titrated,
there is a 12-week observation period on stable doses of the mealtime
insulin to assess HbA1c levels, which is the primary outcome parameter.
Another objective of this study is to compare the safety profile of the
two AFREZZA treatment groups.

The other study (study 175) is assessing AFREZZA using the
next-generation inhaler in patients with type 2 diabetes whose disease
is inadequately controlled on metformin with or without a second or
third oral medication. After a run-in period during which the subjects
remain on their oral medication, at least 328 patients will be
randomized to additional treatment with AFREZZA or to Technosphere®
inhalation powder (placebo). The study will also have a titration
period, followed by a 12-week evaluation period to assess HbA1c levels.

“Completing patient recruitment is the initial element, and often the
lengthiest, in the conduct of large scale Phase 3 clinical trials,” said
Alfred Mann, Chairman and Chief Executive Officer. “Both studies are on
track to be completed in the second quarter of 2013 and we expect to
report top-line results next summer. Our objective is to resubmit the
NDA for AFREZZA in the third quarter of next year.”

About AFREZZA®

AFREZZA® is a novel, ultra rapid acting mealtime insulin therapy being
developed by MannKind Corporation for the treatment of adult patients
with type 1 or type 2 diabetes for the control of hyperglycemia. It is a
drug-device combination product, consisting of AFREZZA Inhalation
Powder, pre-metered into single-use cartridges, and a light, discreet
and easy-to-use inhaler. Administered at the start of a meal, AFREZZA
dissolves immediately upon inhalation and delivers insulin quickly to
the blood stream. Peak insulin levels are achieved within 12 to 14
minutes of administration, mimicking the release of meal-time insulin
observed in healthy individuals. To date, the AFREZZA clinical program
has involved 61 different clinical studies and over 5,600 adult patients.

About MannKind Corporation

MannKind Corporation (Nasdaq: MNKD) focuses on the discovery,
development and commercialization of therapeutic products for patients
with diseases such as diabetes and cancer. Its lead product candidate,
AFREZZA®, is in late stage clinical investigation for the treatment of
adults with type 1 or type 2 diabetes for the control of hyperglycemia.

Forward-Looking Statements

This press release contains forward-looking statements, including
statements related to the completion of clinical studies, the reporting
of top-line results and the submission of data to the U.S. Food and Drug
Administration, that involve risks and uncertainties. Words such as
"believes", "anticipates", "plans", "expects", "intend", "will", "goal",
"potential" and similar expressions are intended to identify
forward-looking statements. These forward-looking statements are based
upon the Company's current expectations. Actual results and the timing
of events could differ materially from those anticipated in such
forward-looking statements as a result of these risks and uncertainties,
which include, without limitation, difficulties or delays in obtaining
regulatory feedback or completing and analyzing the results of clinical
studies, MannKind’s ability to manage its existing cash resources or
raise additional cash resources, stock price volatility and other risks
detailed in MannKind's filings with the Securities and Exchange
Commission, including the Annual Report on Form 10-K for the year ended
December 31, 2011 and periodic reports on Form 10-Q and Form 8-K. You
are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date of this press release. All
forward-looking statements are qualified in their entirety by this
cautionary statement, and MannKind undertakes no obligation to revise or
update any forward-looking statements to reflect events or circumstances
after the date of this press release.

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